Meeting the Government’s target of delivering 180,000 new social rent homes over the next decade could add more than £5bn to the economy, according to new research released today.
Analysis commissioned by housing associations The Hyde Group, MTVH and The Guinness Partnership shows each social tenancy in England generates nearly £30,000 a year in economic and public sector benefits. These include savings for local authorities.
The study found that England’s 4.3 million social homes delivered at least £87bn in economic and social value last year.
Housing associations are urging Government to recognise this value by supporting investment in new social rent homes, confirming rent convergence, and ensuring grant rates enable delivery of genuinely affordable housing.
